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Keep a close eye on the upward price action from the banking and financial stocks in the coming week – it's a must for further gains.
Global cues triggered a massive bout of short-covering in key sectors, leading to a promising bullish candle on daily and weekly charts that supports further uptrend. As the index trades above 17400, the uptrend is likely to continue. But beware: for short-term traders, 17500-17550 will be the immediate support, while 17700/17850 is the crucial resistance.
Here's the kicker: Last week's strong gains were led by a rally in banking and financial stocks. But the momentum readings on the Bank nifty chart seem iffy and we may need to see improvement for any rise to have support of momentum. As seen in the daily chart, both the DMI and the RSI are still neutral. Keep a close eye on the upward price action from the banking and financial stocks in the coming week – it's a must for further gains.
It's no secret that the market's momentum is fuelled by the banking and financial sector. But don't rely solely on these stocks to maintain your portfolio's upward trend. We've got you covered with a list of Small-Cap stocks boasting zero debt and high dividend yields. Keep your portfolio's gains on track with these under-the-radar gems!
Here is the list